Report: J.C. Penney slashed 43,000 jobs in one year

By Marianne Wilson

New York -- J.C. Penney Co. has 43,000 less workers at the end of its most-recently completed fiscal year (February 2, 2012) than it did a year ago, according to a report filed Wednesday with the Securities and Exchange Commission, the New York Post reported.

The company finished its fiscal year with 116,000 full-time and part-time employees, down from 159,000 associates a year ago, the report said.

According to the Post, Penney officials have said that the previous year’s employment figure of 159,000 was inflated by an unusually high number of seasonal workers.